Ike's utility function is U(x;y) = 25xy. He has 12 units of good x and 8 units of y. Ben's utility function for the same two goods is U(x;y)=4x+4y. Ben has 9 units of x and 13 units of y.
举一反三
- Ernie's utility function is U (x,y) = xy. Ernie consumes 4 units of x and 16 units of y. A: Ernie likes x and y equally well so he is always willing to exchange 1 unit of either good for more than one unit of the other. B: None of all C: Ernie would be willing to make small exchanges of x for y in which he gives up 4 units of x for everyunit of y he gets. D: Ernie would be willing to trade away all of his x for y so long he gets more than 4 units of y for every unit of x he gives up.
- Supposeaconsumerhaspreferencesovertwogoods,XandY,whichareperfectsubstitutes.Inparticular,twounitsofXisequivalenttooneunitofY.IfthepriceofXis$1,thepriceofYis$3,andtheconsumerhas$30ofincometoallocatetothesetwogoods,howmuchofeachgoodshouldtheconsumerpurchasetomaximizesatisfaction?? 0;units;of;X;and;10;units;of;Y|15;units;of;X;and;5;units;of;Y|15;units;of;X;and;0;units;of;Y|30;units;of;X;and;0;units;of;Y
- Matt's utility function is min{x，4y + 5z}. The price of x is 1, the price of y is 4, and the price of z is 7. Matt's income is 8. How many units of x does Matt demand? A: 4 B: 7 C: 3.33 D: 5
- If X and Y are measured in the same units and we consider a point that lies below a 45° line, then we know that for the X and Y combination associated with this point, <p></p>
- The production function f (x,y) = x + y has constant returns to scale